Wednesday, January 05, 2022

Nasdaq's diversity rule rankles Republican states

Nasdaq's diversity rule rankles Republican states
  • Nasdaq’s diversity initiative mandates companies to have at least one female and one non-white corporate board member.
The companies are urged to have 
  • at least two diverse directors, 
  • including one who self-identifies as female 
  • and one who self-identifies as an underrepresented minority
  • or LGBTQ+ 
and if not, they must explain why they did not meet the recommended standard.
...The SEC approved Nasdaq’s “Board Diversity Rule” in August.
...“These rules will allow investors to gain a better understanding of Nasdaq-listed companies’ approach to board diversity, while ensuring that those companies have the flexibility to make decisions that best serve their shareholders,” SEC Chair Gary Gensler said in a statement at the time.

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